Senate Passage of Trade Promotion Authority

Today’s bipartisan passage of Trade Promotion Authority (TPA) is a major victory on behalf of working Americans. TPA will allow President Bush to open markets that will create high paying jobs and provide new opportunities for America's farmers and workers to compete and win in international trade.

Trade is a critical component of our economy and TPA will help quicken the pace of our recovery. Trade now represents more than one quarter of our economy and trade has created millions of jobs that pay above-average wages. It has fueled competition and innovation, and helped sustain growth with little inflation. Just as important, it has helped promote the truly global growth and prosperity upon which America’s own growth and prosperity will ultimately depend.

I thank the House and Senate for passing TPA.